For people in Brighton, a high asset divorce may have more issues for a couple to deal with than a divorce between people of more modest means. It’s more likely that there will be a dispute about property division and alimony if there is more at stake. Oftentimes, there may be prenuptial agreements that have been signed — but sometimes the agreements are contested or the circumstances of the marriage changed after the agreement.
The manager of a massive hedge fund firm, Citadel LLC, is divorcing from his wife of 11 years. The man, age 45, filed for divorce stating there were irreconcilable differences between him and his 43-year-old wife. The man’s company manages approximately $21 billion. There was a prenuptial agreement prior to the marriage, but his wife is claiming that she was coerced into signing it hours before the couple was set to wed. The couple has three children, the youngest being two-years-old. According to the wife’s attorney, she may be entitled to billions of dollars in the couple’s fortune. The agreement is believed to say that she should receive one percent of her husband’s net worth.
It’s never easy to end a marriage. It may be more difficult when it is a high asset divorce, there are children involved and there is a disagreement regarding a prenup that was signed prior to the union. The best possible scenario when a couple is divorcing is for there to be an amicable agreement to move forward with their lives without rancor and an extended legal fight. This isn’t always possible in a smaller-scale divorce. When there are significant assets at stake, it may be even more difficult. Having proper advice prior to the case reaching the court is imperative in any attempt to settle the matter.
In this case, the couple is in dispute over a great deal of money. The husband runs one of the world’s largest hedge funds and the wife is claiming that she signed a prenuptial agreement under duress. Considering the issues they’re facing and that there are children involved, it is important that they have competent legal advice.
Source: Wall Street Journal, “Citadel Founder Ken Griffin’s Divorce Could Cost Billions,” Rob Copeland, Sept. 3, 2014